Key Information
- 32,637 sq ft with GIA of 45,797 sq ft
- Rent roll of £361,848 pa (£30,154 pm)
- Suitable for residential conversion (subject to requisite consents)
- Serviced offices, restaurants, gym and 2 x residential penthouses within walking distance of the vibrant area of Hockley
- A password protected online data vault is available via the agents which include items such as: Current Leases/Licenses & Tenancy Schedule Floorplans & CAD Plans Title Plan & Register Asbestos Reports Business Rates & Council Tax Assessment Internal & External photographs EPC's
- Offers in the region of £3,750,000. The vendor is able to sell the company that holds the property which may offer a party a substantial saving on Stamp Duty. All parties are advised to make their own enquiries of their independent accountant.
The property comprises a period building currently utilised as a serviced office mostly with a gym, two restaurants and two substantial residential penthouses (1 x 7 bed and 1 x 1 bed) . The serviced offices offer a range of office accommodation and meeting rooms available to rent on short- and long-term basis. The specification of the offices include gas fired central heating, double glazing, suspended ceilings, comfort cooling, wall plug sockets and Category II lighting. There is on street parking available immediately outside the property as well as an NCP car park at the top of the road. The Saint Mary's Rest Garden is also to the rear of the property.
Location
The property is located on Barker Gate at the heart of Nottingham's City Centre and within the Creative Quarter, circa 0.5 miles from Old Market Square. The Creative Quarter/Hockley is home to Nottingham's niche shops, bars, and restaurants as well as a multitude of period buildings, many of which have been converted to residential accommodation. The property benefits from superb transport links; the A60 links to Nottingham's Southern Relief Route as well as Nottingham's northern conurbations, the lace market car park and NET - Nottingham's award-winning Tram Service - lie within a 5-minute walk. Nearby occupiers include; Bunk, Nottingham College and Mowgli, as well as the National Ice Arena being at the bottom of the road.
VAT
The property is elected for VAT although it is anticipated that the sale will be treated as a Transfer of a Going Concern (TOGC), meaning a payment of VAT will be waived, however all parties are advised to make their own enquiries of their independent accountant.
Legal Costs
Each party is to bear their own legal costs incurred.
Accommodation
Office measurements on NIA, residential on GIA. All parties are advised to carry out their own measurements.
Planning
We understand the property benefits from planning consent on the commercial element for Use Class E (Commercial, Business and Services use) under the Town and Country Planning (Use Class) order 1987 and its subsequent amends. The residential elements are understood to fall under C3 (dwellings). The property is NOT noted as listed on Historic Englands online portal however is within the Lace Market Conservation Area. (Information for guidance purposes only, all parties advised to make their own enquiries of local authority).
Viewing
Viewings are by appointment with sole agents Innes England